Firestar Diamond Inc, the flagship company of billionaire Nirav Modi who is at the centre of the Punjab National Bank (PNB) scam, filed for bankruptcy in USA on Monday. The ED informed the court that as Modi is not available for examination it was required to issue NBW against him. Such actions follow other moves that have been taken against Nirav Modi and the Punjab National Bank this week to recover the money. Investigative agencies have also frozen assets such as bank accounts of Modi’s uncle-cum-business partner Mehul Choksi, a co-accused in the PNB scam. The first summons was issued on February 15 this year where the agency had asked Modi to attend the ED office on February 16.

Source: dna February 27, 2018 23:48 UTC